top

Impact

LUinc. businesses secure patents, get funded, create jobs and win awards

LUinc.

LUinc. supports businesses to succeed

Our business incubator has worked with hundreds of businesses and social enterprises since its launch in 2011. Joining forces with regional partners, including Charnwood Borough Council, has helped to significantly increase LUinc.’s reach and impact.

Since launch, LUinc. has engaged over 450 aspiring founders, helped over 100 emerging businesses and supported the setup of 43 local businesses.

By 2030 we aim to support over 100 businesses each year, contributing to economic development by generating innovation, jobs and growth.

LUinc.

LUinc. impact in numbers

A sample of 52 of the businesses the incubator has worked with since launch found they had created hundreds of jobs and raised more than £2.4m in funding over the course of 2022/23.

Awards won

  • Many LUinc. members have become multi-award winners, spanning fields including health, data and regional to national innovation awards.
  • Our members include award winners for Barclays Entrepreneur of the Year, Young Business Executive of the Year, New Business of the Year, Future Leader Award, Innovate UK Young Innovators Awards and the first winner of the International Medical James Dyson Award
  • Our startups regularly feature in innovation focussed news outlets and national mainstream media.

Funding raised

  • A total £2,481,720 of external investment was raised, including equity and grant funding
  • This is an average of £47,725 per business in the survey
  • One company raised £750,000 in Government research support, another £500,000 in private investment, and another contributed to raising of £285,000 for charity

Revenue received

  • The average income for companies surveyed was £75,000 over the course of 2022/23
  • Some businesses recorded nothing as they developed new products and designs
  • More established firms logged revenue running to hundreds of thousands
  • One former member turned over more than £1m and employs hundreds of people annually

Jobs created

  • A survey of 52 LUinc. members past and present members found that they had employed 354.5 full-time or part-time staff members in 2023
  • That is an average of 6.8 jobs created per business
  • In addition, there were 22 Loughborough students given internships or work placements in the same period

Businesses launched

  • During 2022/23, LUinc. worked with 58 pre and emerging startups, including; 21 graduate entrepreneurs, 1 academic spinout and 36 founders from outside the university

Sectors covered by LUinc. businesses

  • LUinc. businesses operate across a wide range of sectors, from creative industries, to design engineering, sport, health & wellbeing, energy & low carbon and more
  • In 2022 we launched the Loughborough Venture Mentor Service, building a network of 30+ alumni entrepreneurs and expert mentors to help new business founders. Sector expertise covers pharma, med tech, advanced manufacturing, creative & design, sales and more.

Patents gained

  • Our businesses applied for or were successfully granted at least 3 patents for innovative new technologies during 2022/23.

 

New Business Wayfinder

We’re working with Charnwood Borough Council and Loughborough College to establish new skills and incubation spaces across Loughborough.

New Business Wayfinder, part-funded by Loughborough Town Deal through the Government's Towns Fund, will enhance the incubation spaces available at LUSEP and in Loughborough Town Centre. The programme will support 300 individuals and lead to the establishment of 60 startups, including 15 social enterprises.

Learn more

Previous LUinc. companies

Previsico

Previsico spun out of Loughborough in 2019 following two decades of research and development into a world first surface water flood forecasting system. Through the LUinc. system we grew our team rapidly then transitioned to larger space at ATIC. Having raised £1.75m in VC investment in 2021, we plan to employ 70 people by 2024. Being based at Loughborough has been invaluable by enabling us to continue research collaboration and recruit talented graduates and academics.

Dr Avi Baruch
Chief Operating Officer
Previsico

Figura Analytics

We began working with LUinc. after spinning out of Loughborough University in 2021. We raised £180,000 in seed round funding and developed our first two working prototypes. In addition, we engaged in pilot studies with major potential customers in the drinks industry to showcase our capability. LUinc. provided office space, as well as introductions to influential industry-based alumni. We have also received support for several innovation awards which we have won.

Rhush Maugi
Co-founder
Figura Analytics

The Bug Factory

Joining LUinc. gave me the tools, support and confidence I needed to turn my idea into a graduate startup business. Were it not for LUinc. I would likely not have had the courage to take the initial leap. Since being part of LUinc. I have launched my product on Kickstarter, won multiple pitching events, raised pre-seed investment, won Barclays Bank Entrepreneur of 2021/22 and been named an Innovate UK Young Innovator.

Thomas Constant
Founder
The Bug Factory

LUinc.

Get involved with LUinc.

  • Alumni supporters

    Many people who have themselves been through LUinc. or studied at Loughborough University are interested in supporting the innovators of the future. We welcome interest from alumni who share our vision for a thriving Loughborough start-up ecosystem.

  • Expert mentors

    LUinc. works with dozens of leading experts across multiple sectors and specialisms. Many volunteer to tutor, mentor and advise members at no expense or as part of corporate CSR schemes. The Loughborough Venture Mentor Scheme, the University’s flagship programme for innovators and entrepreneurs, connects you with recent graduates, University spinouts and startup founders with big ambitions to turn their ideas into thriving businesses.

  • Investors

    In order for our start-ups to build new products and scale fast, they will often look out for people and organisations interested to invest in their success.
Get involved